Ennistymon Credit Union
Home » Tag Archives: Moneypoint

Tag Archives: Moneypoint

Work to start on €50m Moneypoint synchronous compensator

    WORK on the construction of a new €50 million Synchronous Compensator will begin in Moneypoint Generating Station last this month as part of the ESB’s multi-billion Euro Green Atlantic development. The new compensator will be the first in the country and will incorporate the world’s largest flywheel used for grid stability. Due to the intermittency of wind energy, grid stabilisation technologies have an increasingly important role in a successful energy transition. The synchronous compensator will enable the management of the transmission system safely and securely with a reduced dispatch of fossil fuel plant under constraints and reduced costs of transmission operations. In a statement issued to the Clare Champion, the ESB stated is pleased to bring forward the Moneypoint Synchronous Compensator with flywheel as a cost effective and zero carbon solution in strengthening the stability and resilience of the Irish grid. An ESB spokeswoman confirmed manufacturing of the main electrical and mechanical components commenced earlier this year, works …

Read More »

Siemens wins contract for €50m Moneypoint project

THE ESB has awarded the contract for the engineering, procurement and construction of the new €50m Synchronous Compensator in Moneypoint Power Station to Siemens Energy Limited following a competitive tender process. Awarding this contract is seen as the first phase in the ESB’s plans to transform Moneypoint into a new green energy hub, which includes the proposed development of a new windfarm 16 km off the Clare coast. The Synchronous Compensator, which will be the largest of its kind in the world, will provide a range of electrical services to the electricity grid, which would previously have been supplied by thermal fired power stations. It will enable higher volumes of renewables on the system. Responding to Clare Champion queries, the ESB stated Siemens is commencing engagement with contractors in the region to carry out the construction and delivery of the project and work on site will commence soon afterwards. It is estimated these projects require up to 100 personnel during …

Read More »

Key Elements of €5 Billion Green Atlantic

THERE are four key elements to the multi-billion Euro Green Atlantic initiative announced by the ESB, which will result in the creation of a renewable energy hub in Moneypoint Power Station. The first part is renewable enablement. Work has already started on transforming Moneypoint into a green energy hub, breaking ground on a new €50m Sustainable System Support facility in the coming weeks. This new plant will provide a range of electrical services to the electricity grid which would previously have been supplied by thermal fired power stations. Its operation will enable higher volumes of renewables on the system. The second element is the creation of a floating off-shore wind farm of 1,400MW off the coast of Counties Clare and Kerry, which will be developed in two phases by ESB and joint venture partners, Equinor, a world leader in floating offshore wind technology. Once complete, the wind farm will be capable of powering more than 1.6m homes in Ireland. Subject …

Read More »

Moneypoint key to Ireland meeting its climate targets

Ireland could become net exporter of energy once Green Atlantic project comes fully to fruition, reports Dan Danaher. THE creation of a new multi-billion euro green energy hub at Moneypoint Power Station can help Ireland to become a net exporter of energy, the ESB has predicted. In line with the Government’s ambition of reaching net zero emissions by 2050, ESB has stated the transformation of Moneypoint in County Clare into a green energy hub will help Ireland to become a leader in green energy production. Green Atlantic is a new ambitious plan, which includes the proposed development of new off-shore wind farm with the potential to power 1.6 million homes. Speaking at a press briefing on Friday, ESB chief executive, Pat O’Doherty stated Green Atlantic at Moneypoint reflects the scale of its ambition and commitment to creating a cleaner, brighter and more sustainable future for everyone. “Ireland imports 80% of its requirements in the form of coal, oil and gas. …

Read More »

Staff ‘delighted’ as future of power plant is mapped out

YEARS of uncertainty for Moneypoint employees came to an end last week, with the direction for their plant being unveiled, and assurances that their jobs will be sustained into the future. In addition the construction of new infrastructure and support services are set to see the creation of hundreds of new jobs, providing a massive and overdue economic boost for West Clare. After coal burning ceases in 2025, the plant will continue in back-up mode, until the first phase of the new green energy development comes on stream three years later. The lack of a plan for a future after coal burning ended was a huge concern for west Clare, while significant job losses at the plant in 2019 meant the outlook was rather bleak, but one worker said that staff have been thrilled with last week’s development. “From the feedback I’m getting, everyone is over the moon and everyone is delighted. They’re going to use the site below to …

Read More »

Green Atlantic windfarm will create up to 600 new jobs

BETWEEN 50 and 100 jobs will be created to provide a new €50 million Synchronous Compensator in Moneypoint Power Station as part of the ESB’s exciting new €5 billion Green Atlantic development, reports Dan Danaher. This Synchronous Compensator, which will be the largest of its kind in the world, will provide a range of electrical services to the electricity grid, which would previously have been supplied by thermal-fired power stations. Its operation will enable higher volumes of renewables on the system. While Moneypoint plant manager, Sean Hegarty was unable this week to provide an exact number of new jobs in advance of signing this major new work contract for the site, he estimates a major construction of this scale usually requires between 50 and 100 people. It is estimated the construction of the new offshore windfarm will create up to 600 new jobs, pending planning approval. This new Synchronous Compensator will be sub contracted to a major manufacturer who may …

Read More »

ESB Announces New Multi-Billion Euro Green Energy Hub At Moneypoint

  A new floating offshore wind farm of 1,400MW will be developed off the coast of Clare as part of a multi-billion Euro transformation of Moneypoint Power Station into a green energy renewables hub, the ESB has announced. The ESB has already commenced work on transforming Moneypoint into a green energy hub, breaking ground on a new €50 million Sustainable System Support facility in the coming weeks. This Synchronous Compensator will be the largest of its kind in the world. The new plant will provide a range of electrical services to the electricity grid, which would previously have been supplied by thermal fired power stations. Its operation will enable higher volumes of renewables on the system. The transformation of the Moneypoint site will allow a range of renewable technologies to be deployed over the next decade with the capacity to power 1.6 million homes. In line with the Government’s ambition of reaching net zero emissions by 2050, ESB has stated …

Read More »

Decision needed on the future of Moneypoint

WITH West Clare’s tourism sector set for a difficult spell ahead, the future of Moneypoint is particularly critical to the region’s economy. Kilrush based county councillor Ian Lynch said that the slow progress in establishing what the future will hold is very frustrating. “The momentum has been taken out of the economy and we have spent years discussing how Moneypoint can be a key stimulus to it. There are several opportunities out there that we’re just not allowed to explore because the ESB aren’t willing to open the deepwater port. I think a couple of weeks ago the ESB said that the possibility of Moneypoint being shut down in the near future is becoming more likely. I don’t believe that because I do think it’ll always be there as a back-up, there would still be maintenance, but the amount of shifts would be minimal in the year. ESB management aren’t willing to open up the port for reuse, they’re talking …

Read More »